XRP Expected to Rise 40% Amid Improved Regulatory Outlook
Shifting U.S. regulations and positive price trends may lead to a potential 40% increase in XRP prices.
- XRP has formed a "descending triangle" pattern after peaking at nearly $2.9 in December.
- This pattern indicates a consistent demand level and declining price bounces.
- According to technical analysis, descending triangles typically result in a downside break, but bullish breakouts can yield gains of 47% to 16%.
- Analyst Omkar Godbole suggests XRP could rise over 40% if it surpasses the upper trendline.
- A drop below the support line near $2.00 would negate this potential.
- Social sentiment towards XRP is optimistic, outperforming both BTC and ETH.
- Since Donald Trump's election, XRP's value has increased by over 300%, attributed to expected favorable crypto policies.
- The departure of SEC Chair Gary Gensler may enhance regulatory conditions for XRP.
- Ripple's CEO indicated that the new government may end regulatory uncertainties and create more domestic opportunities.
- Ripple Labs signed more U.S. deals in the last six weeks than in the previous six months, reflecting the "Trump effect."
- Ripple President Monica Long mentioned that an XRP exchange-traded fund (ETF) might soon materialize due to perceived regulatory improvements.
